Mathieu Hryniuk LLP

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Our 40 staff members consist of many long time employees with well over 100 years of combined experience in all areas of our practice. In addition to personal secretaries, litigation and conveyancing specialists, we have specialists in estates, corporate, collection foreclosures, wills, commercial work and accounting.

In the Business Corporations Act (of Alberta) there is no distinction between a holding corporation and an operating corporation. It is a description of function that is based on fact. Generally a corporation is considered to be a holding corporation if it owns the shares in an operating corporation. If an individual owns shares in the holding corporation, it provides the individual with the ability to shift excess cash out of the operating corporation and into the holding corporation. This is referred to as tax free inter-corporate dividend and it does not trigger a corporate tax consequence. The individual also does not have a tax consequence in such a circumstance as long as the individual does not subsequently transfer funds to themselves personally from the holding corporation. The transfer of funds to a holding corporation decreases the risk of loss that can occur as funds held by the holding corporation are no longer at risk of liability due to activities of the operating corporation.

While this website is made available for general informational purposes it is not intended to provide specific legal advice. The information we provide on our website should never replace the advice of a lawyer familiar with the specific facts relating to your particular situation. The information contained here is of a general nature and may not apply to your circumstances. You should never act or fail to act based on something found on this site. We encourage you to contact a lawyer immediately if you have been injured and you feel you may have the right to sue. Reviewing our website should not be viewed as having sought professional advice. Keep in mind that legislation changes over time and even the interpretation of existing laws can vary following new court decisions. Although we try to keep our information accurate and current, information provided here is subject to legislative acts and amendments; recent court decisions; the particular circumstances of a given case; and other factors which may render it inappropriate for your particular circumstances.

Attendance with our own medical experts Our personal injury lawyer will arrange to have you seen by experts to provide us with a medical legal opinion that will form part of our case at trial. Only medical experts will be permitted to provide an opinion at trial about your current condition, the cause of your injuries and the impact of those injuries on your life, now and in the future. The medical experts will be in addition to your own health care providers, including your family doctor and/or your primary treating physician.

Our corporate laws provide for limited liability to shareholders as such liability relates to the corporation’s activities. The risks of liability to shareholders are limited to the value of their shares and shareholder loans owed to them by the corporation. If a corporation goes bankrupt, a shareholder’s other personal assets are not at risk (subject to certain improper acts by shareholders or in a situation whereby the shareholder has guaranteed a corporation’s debt). What are my risks as a director of a corporation? Risks as a Director: Unlike a shareholder, a director can be held liable for certain liabilities of the corporation. These liabilities are based on certain legislative provisions. Examples of liability are found in: (1) the Excise Tax Act (of Canada) which provides that directors are liable for unremitted Goods and Services Tax of the corporation; and (2) the Income Tax Act (of Canada) which provides that directors may be liable for employee’s withholdings that are not remitted by the corporation. There are also situations whereby a director can be responsible for corporate employee’s wages and certain environmental infractions.

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